The Financial Industry Regulatory Authority on Monday said it has fined Citigroup Global Markets Inc. $15 million for failing to adequately supervise its equity market research analysts, whom the regulator said gave improper tips at so-called “idea dinners” with clients but weren’t adequately punished for violating the bank’s policies.
A former Longtop Financial Technologies Ltd. executive could pay around $5 million in damages after a New York federal jury found him liable in a rare securities class action trial over the Chinese software company's accounting shenanigans, a plaintiffs' attorney said Monday.
California Gov. Jerry Brown nominated federal prosecutor Leondra R. Kruger to the California Supreme Court on Monday to replace Justice Joyce Kennard, who retired from the bench in April after 25 years.
A Massachusetts federal judge on Monday refused to allow AstraZeneca PLC and Ranbaxy Inc. to end a pay-for-delay trial over the heartburn drug Nexium, saying the case should go before a jury, while Teva Pharmaceutical Industries Ltd. opted to settle with the plaintiffs.
President Barack Obama announced Monday that embattled Defense Secretary Chuck Hagel has resigned from his post, but will stay on until his successor has been confirmed.
British cable company BT PLC confirmed Monday it is in early takeover talks with a pair of U.K. mobile providers, including Telefonica SA's O2 unit, potentially setting up another blockbuster tie-up in a European telecom sector teetering toward mass consolidation.